ENERGY BRIEFS

ENERGY BRIEFS

Indonesia Appeals

For Production CutsJAKARTA, Indonesia - Indonesia appealed to members of the Organization of Petroleum Exporting Countries exceeding their crude oil production quotas to reduce output by between 200,000 and 300,000 barrels a day, and to Non-OPEC countries to reduce production by around 500,000 b/d, Indonesian mining and energy minister Ginandjar Kartasasmita said Friday.

He spoke after a meeting Thursday with Iran's deputy oil minister Hossein Kazempour Ardebili on his arrival here from China.

China, a Non-OPEC country, will support any decision at next weeks meeting between OPEC and non-OPEC oil producers, Mr. Kartasasmita quoted Mr Ardebili as saying.

The OPEC meeting is scheduled to take place in Vienna Tuesday.

Persian Gulf Hostilities

No Threat to Prices

BALA CYNWYD, Pa. - Recent hostilities in the Persian Gulf, even if they were to cause a short disruption in tanker traffic, will not necessarily drive up oil prices, according to energy experts from The Wharton Econometric Forecasting Associates (WEFA) Group.

In fact, these analysts say, barring a sustained disruption of gulf supplies, the odds favor a weakening of prices from late April into May and June.

We estimate that there are at least two, possibly three and perhaps four days' supply of discretionary commercial inventories that could be drawn down before oil supplies become tight, said Morris Greenberg, WEFA Group's manager of Fossil Fuels Analysis. As a result, the (Persian) gulf could be shut down for two weeks to a month without any physical impact on the markets and without any release of strategic stocks.

Gulf Canada Sales

Up 3 percent in Quarter

CALGARY, Alberta, - Gulf Canada Resources Ltd. said sales of crude oil and natural gas liquids increased an average of 89,300 barrels a day in the first three months of 1988, up 3 percent from the same period in 1987.

Gulf Canada produced and sold an average of 388 million cubic feet of natural gas a day in the recent quarter, up 36 percent from the 285 million cubic feet a day sold in the first quarter of 1987.

This improvement reflects new sales to customers in Eastern Canada, the company said.

Capital and exploration expenditures during the quarter were $85 million, compared with $47 million for the same three month in 1987.

The increase in expenditures reflects higher spending in Western Canada and internationally.